Nicholas McAlpine-Lee, CEO of Heylo, controversially argued that the survival of the NHS is dependent on a home ownership model.
Speaking at the Housing Market Intelligence Conference 2016, McAlpine-Lee warned against the government’s waning focus on home ownership. “If we don’t continue to focus on home ownership, the NHS will be defunct,” he said. “The NHS is reliant on the elderly releasing their accumulated wealth to pay for care. Without that it will be bankrupt.”
McAlpine argued that home ownership was the best way to build personal wealth, which is especially important at the UK tackles how to care for its aging population.
His comments follow a new analysis from Ludlow Thomson which claims that more than half of the UK’s personal wealth is now held in residential property.
However, the government’s move away from home ownership seems to have received a warmer welcome from other industry players. “The current move away from the narrow focus on home ownership is incredibly helpful in terms of meeting needs and additionality,” said Jim Ward, director of residential research and consultancy of Savills. “If we are going to deliver 300,000 homes, that needs to meet a wide range of needs from rental to aspiring homeowners.”
“It’s about supply – not ownership,” said David Montague, Chief Executive of L&Q. “We are seeing a long term approach and the beginning of a long term plan. We are very encouraged.”